This ‘Donchian bias determinator’ indicator can be used to detect an open or close outside the Donchian channel. After a close on the upper side, the candle colors Blue and after a close below the lower side, the candle colors Red. It is a simplified way to play the Donchian 4 weeks rule (Not yet automated). You can tweak this indicator to your own needs, for example, I left away the Donchian channel to get a plain vanilla chart. (attached images).
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//Donchian bias determinator indicator //05-11-2017 //Marcel van Vliet // mmTYPE=1 (mm type) Upper = HIGHEST[20](HIGH[1]) Lower = LOWEST[20](LOW[1]) Middle = (Upper + Lower) / 2 bodyhigh = max(open,close) bodylow = min(open,close) if(open<=close and close > Upper) then LongWickUp = high LongCandleUp = bodyHigh LongWickDown = low LongCandleDown = bodyLow elsif(open>=close and close > Upper) then LongWickUp = low LongCandleUp = bodyLow LongWickDown = high LongCandleDown = bodyHigh elsif(open<=close and close < Lower) then ShortWickUp = high ShortCandleUp = bodyHigh ShortWickDown = low ShortCandleDown = bodyLow elsif(open>=close and close < Lower) then ShortWickUp = low ShortCandleUp = bodyLow ShortWickDown = high ShortCandleDown = bodyHigh elsif(open<=close and close < Upper and close > Lower) then RangeWickUp = high RangeCandleUp = bodyHigh RangeWickDown = low RangeCandleDown = bodyLow elsif(open>=close and close < Upper and close > Lower) then RangeWickUp = low RangeCandleUp = bodyLow RangeWickDown = high RangeCandleDown = bodyHigh endif //bullish candlesticks if close>Upper then DRAWCANDLE(LongCandleDown,LongWickUp,LongWickDown,LongCandleUp) coloured(0,0,102) endif //bearish candlesticks if close<Lower then DRAWCANDLE(ShortCandleDown,ShortWickUp,ShortWickDown,ShortCandleUp) coloured(200,0,0) endif //neutral candlesticks (Donchian channel) if close<Upper and close>Lower then DRAWCANDLE(RangeCandleDown,RangeWickUp,RangeWickDown,RangeCandleUp) coloured(150,150,150) endif RETURN upper AS "upper", lower AS "lower", middle AS "middle" |
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Excellent, merci !
Excelente indicador, felicitaciones, muy bueno